Fidelity Bank and USAID are looking for ideas to finance. If you have any good idea and a business plan, may be you should meet them.

Hello qblaze,

I need to know more about this program, can u elucidate further or pls give me a call so that I can call you back?
I will greatly appreciate.
Thanks

ntuedor

It's a micro-finance scheme, meaning they are looking to give a small amount as a loan to start or improve your business. Here's a recent news story about it:

http://www.businessdayonline.com/?c=50&a=9406

USAID partners Nigerian banks on SMEs, mortgage financing

A total amount of $15 million has been launched by the United States Agency for International Development (USAID) to finance Micro, Small and Medium Enterprises (MSMEs) and mortgage in the country.
OLUYINKA ALAWODE

The launching by the United States Ambassador to Nigeria, John Campbell, which took place weekend was targeted at empowering Nigerians. In partnership with Fidelity Bank, USAID launched a $5 million project to finance MSMEs. The USAID Development Credit Authority (DCA) with Fidelity Bank will provide long term credit to Nigerian MSMEs (agro and non agro) for business start-ups, investment and working capital. The focus areas are the Niger Delta and Northern regions and Nigeria's commercial capital, Lagos.

Also on the same day, a $10million mortgage scheme was launched by USAID and Zenith Bank Plc. The scheme is specially targeted at the middle and low income earners in Nigeria and called the mortgage finance Development Credit Authority- DCA

DCA is a USAID development credit authority program. It will provide medium/long term mortgage loans to Nigerians to purchase primary residence in Lagos, Abuja, Kano and Port Harcourt areas. With this partnership, Zenith Bank will provide mortgage loans for individuals to purchase homes costing a maximum of N10million.

With these partnerships, USAID, Zenith and Fidelity bank will be contributing to the development objective of improving livelihoods through home ownership, increased incomes and employment. The projects partially demonstrate the deepening of the Nigerian financial sector and the benefit of the banking reform agenda in Nigeria and hopefully will stimulate further lending to the real sector of the economy.

USAID has been working in Nigeria since the 1960s and provides $80-100 million annually in development assistance to Nigeria in the areas of democracy and governance, agricultural development and economic growth, basic education, reproductive health and child survival, and HIV/AIDS.